Citi has maintained its buy rating on Sun Pharma with a target price of ₹2,180 per share, implying a potential upside of about 34.6% from the current market price of ₹1,620.80. The brokerage has also added the stock to its Pan Asia Focus List.
Citi expects innovation revenues to rise to $3.2 billion by FY30 compared with $1.2 billion in FY25. Key growth drivers include strong formulary coverage for Leqselvi, a safety edge for Leqselvi and Unloxcyt, Ilumya’s approval for psoriatic arthritis (PsA), and expanded US Medicare coverage.
The brokerage further highlighted that Sun Pharma’s FY27–28 earnings per share (EPS) are expected to be 10–18% ahead of consensus estimates. It added that valuations remain attractive at around 0.8 standard deviation above mean, despite recent concerns over FY26 earnings.
Disclaimer: The views and investment recommendations expressed are those of Citi. These do not represent the views of this publication and should not be considered as investment advice. Investors are advised to consult their financial advisors before making any investment decisions.
